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Goldman once again tops list of prime brokers
trueGoldman Sachs remains the top pick for hedge funds and investment firms as their main prime broker, with 27% of respondents, followed by Morgan Stanley (17%) and J.P. Morgan (8%). The data are from Eze Castle Integration's annual global hedge fund technology benchmark study for 2014; there were 194 ...
State Street Global Markets shuttering its derivatives clearing business
trueState Street Global Markets will close its U.S. derivatives clearing business early next year and has halted plans to launch a similar business in Europe.
Citigroup to close LavaFlow stock trading venue in January
trueCitigroup will close its private stock trading venue next month.
ISDA taps Societe Generale executive as new chairman
truestrong>Eric Litvack was named chairman of the International Swaps and Derivatives Association, effective Jan. 1.
EU threat of soft-dollar ban still alive, raising questions for managers
trueThe possibility of European regulations banning the use of soft dollars for third-party research is alive and well, despite talk in the U.K. and Europe that regulators would settle for something that falls short of a ban.
Booming derivatives costs are welcome news for ETFs
trueWelcome to intended consequences.
SEC to require backup operational plans for large-volume trading venues
trueThe SEC on Wednesday approved requiring large-volume equity exchanges, alternative trading systems and dark pools to submit to the agency backup operational plans in case those venues' technological systems break down.
18 banks sign ISDA rules to delay swaps termination rights
trueNew rules that will delay swaps termination rights and collateral demands were signed by 18 major banks, the International Swaps and Derivatives Association announced Wednesday.
Critics strike back at tick-size pilot program
trueThe inclusion of a trade-at provision in the SEC's proposed small-cap tick-size pilot program is proving controversial, with debate centering on whether it unfairly targets dark pools and makes the overall pilot too complex.
High-frequency trading: Considerations and risks for pension funds
truePotential negative effects of the subset of automated algorithm-based trading known as high-frequency trading have recently generated significant attention, including congressional hearings, regulatory investigations, lawsuits and widespread media coverage. A fiduciary to a pension fund should ...
CFTC collects $3.27 billion in sanctions in fiscal 2014
trueThe Commodities Futures Trading Commission collected a total of $3.27 billion in monetary sanctions from enforcement actions in the 12 months ended Sept. 30, the CFTC’s fiscal year.
SEC releases tick size pilot program plan for comment
trueThe SEC late Monday released for public comment its plan to do a one-year pilot program to widen minimum tick sizes for small-cap stocks.
Justice Department targets J.P. Morgan Chase forex business in criminal probe
trueJ.P. Morgan Chase & Co.'s foreign exchange trading business is the target of a criminal probe by the U.S. Department of Justice, said a company filing with the SEC Monday.
Pact raises caution flag on swaps
trueAsset owners that use swaps could ultimately face losses and added risk as a result of an agreement among 18 major global banks.
ETP traders not responding to exchange overtures
trueAll too often, exchange-traded products are described as mutual funds that trade like stocks. A closer look reveals that not to be the case. To the surprise of many, ETP traders are comfortable in the dark.